Is the Channel Oversold Bounce the Start of the Epic Turnaround?

WYCKOFFPRO
2023-08-23

Watch the video extracted from the live session on 22 Aug 2023 below to find out the following:

  • How to anticipate the short-term trend (the current swing).

  • The key support level for S&P 500

  • The most bullish case to anticipate

  • The likely developing trend based on the supply level and the market structure

  • And a lot more

The bullish vs. bearish setup is 220 to 260 from the screenshot of my stock screener below pointing to a negative market environment. This is expected after the ongoing market correction started 3 weeks ago.

This is consistent with the reading from both the long-term and the short-term market breadth.

In the premium video, we discussed the 2 main types of trade entry setup between the outperforming stocks (mainly the newly added stocks) and the oversold stocks.

Both contain valid types of entry at the key support/pivot level. Yet the anticipated trend could be very different and how we could do in our trading plan if we decide to go for the entry.

12 “low hanging fruits” ( $Vertiv Holdings LLC(VRT)$ , $ConocoPhillips(COP)$ , etc…) trade entries setup + 16 others ( $Arista Networks(ANET)$ , $Neogen Corp(NEOG)$ , etc…) plus 7 “wait and hold” candidates have been discussed during the live session. Click to visit TradePrecise.com to find out the top 3 unknown stocks ready to soar for free via email.

A market correction is the best time for us to spot the resilient and outperforming stocks. When the tide turns, they will be the ones to rally first while continuing to beat the market.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • ZOE011
    2023-08-23
    ZOE011

    analysis confirms an upward trend for the stock. We alerted the BUY signal at $183.7 and we were able to close this one with profit at $187.52

  • Hilliton324
    2023-08-23
    Hilliton324

    Anyone in the networking business knows, ANET powers some of the largest Hyperscalars, Enterprises, and Datacenters. Azure and Facebook to name two. Come join us. Long and Strong since Day 1 IPO and holding until the market cap exceeds Cisco, which it will.

  • RandyHall
    2023-08-23
    RandyHall

    short term yields rising long term yields falling. Bond market nervous about the short term….Credit Event is coming

  • 0billionaire
    2023-08-23
    0billionaire

    Agreed. We're in a bear, and the head fake is nearly complete for this round.

  • SiongZ
    2023-08-23
    SiongZ

    Short squeeze? Shorts loading up? Exciting times...

  • lyj1999
    2023-08-23
    lyj1999
    ooo
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